SECTION 18

The confirmation of the arrangement shall be binding to all prior creditors to the decision to open a preventive settlement, whether their claims are unsecured or secured by a security interest under the conditions of time extensions and debt reduction which they have granted to the debtor without prejudice to the provisions of Article 15 above. The confirmation of the composition shall also obligate joint debtors or individuals who have consented to personal security or allotted or assigned a property as collateral security when they paid the claims of the debtor incurred prior to the decision. Creditors with a general privilege, a special property lien, a pledge, a suretyship or a mortgage shall not lose their collateral securities. However, they may only realize them in case of annulment or cancellation of the composition to which they consented or which has been imposed. With the exception of natural persons, joint debtors or individuals who have consented to a personal security or allotted or assigned a property as collateral security may use time extensions and debt reduction from the arrangement. The prescription shall remain stayed for all creditors who, pursuant to the arrangement, may not exercise their rights or actions, including any measure of extrajudicial execution. The arrangement shall also suspend, for the same period, deadlines set for creditors who are party to the composition. Failure to do so shall cause forfeiture or cancellation of claims stated in the said arrangement. As soon as the decision confirming the arrangement enters into force of res judicata, the debtor shall recover the freedom to administer and dispose of assets